Vietnam Electronic Payment Forum (VEPF) 2017 under the directions of the State Bank of Vietnam (SBV) officially opened in Hanoi on November 6, 2017. This was the third consecutive year that VEPF was organized by e-newspaper VnExpress and National Payment Corporation of Vietnam (NAPAS).
VEPF 2017 themed “Mobile Payment – a factor to promote non-cash payment” focused on discussing substances related to the development of ecosystem for non-cash payment in Vietnam through three main sessions: (1) the explosion of Mobile payment in the world and the trend in Vietnam; (2) development of ecosystem for mobile payment in Vietnam; (3) a dialogue on electronic payment in e-commerce with Alibaba Group President Jack Ma.
Speaking at the forum, Deputy Prime Minister Vuong Dinh Hue said that the implementation of digital technology solutions has helped many countries in the world achieved a breakthrough in Financial Inclusion. Moreover, digital technology helped remove spatial, time and geographical barriers, thereby allowing credit institutions to provide products and services at a lower cost, and facilitating customers to get access to banking services. The application of information technology and telecommunications with many new, safe and convenient products showed the potential and trend in developing modern banking services.
Deputy Prime Minister Vuong Dinh Hue speaking at the forum
In addition, The Deputy Prime Minister stressed on the need of coordination and connection with all relevant ministries and agencies to solve obstacles and difficulties in electronic and mobile payment for effectively developing non-cash payment in Vietnam. At the same time, he required all relevant ministries and agencies to promote communication activities to make electronic payment familiar with customers; thereby contributing to successful implementation of objectives of scheme on developing non-cash payment for 2016-2020 period; scheme on improving accessibility to banking services for the economy as well as the process of formulating National Financial Inclusion Strategy.
Deputy Governor Nguyen Kim Anh speaks at VEPF 2017
SBV Deputy Governor Nguyen Kim Anh said that in parallel with the SBV’s management of monetary policy, the application of advanced technology to banking operations in general and payment activities in particular contributed to improving operational efficiency and governance capacity of credit institutions. This would expand consumers’ ability to get access to modern banking products and services. He stated the SBV recently promulgated a plan of developing bank card payment via POSs for 2017-2020 period. Accordingly, by 2020, there will be at least 300,000 POSs with over 200 million transactions every year; all super markets, shopping centers and modern distribution agencies install POSs; all State treasuries in municipalities, districts, cities, provincial towns install POSs.
Through the VEPF 2017, all participants had an opportunity to discuss and share experience in mobile payment development in the world; recommend options and application of models of developing ecosystem for Mobile Payment in accordance with situations in Vietnam in order to promote the development of non-cash payment and financial inclusion in Vietnam in accordance with the directions of the Government.
Alibaba Group President Jack Ma sharing experience at the forum
On this occasion, VEPF 2017 welcomed Alibaba Group President Jack Ma to participate in a dialogue on experience in developing e-commerce, mobile payment in China and the globalization of Alibaba Group.
Le Hang